Evergrande’s Debt Crisis Weighs on China Property Investors’ Sentiment

Evergrande’s latest trouble in firming up a long-awaited debt restructuring plan led to a sell-off in its and peers’ shares on Monday, as worries resurfaced about the crisis-hit property sector after a brief respite. The world’s most indebted property developer, which has become the poster child of China’s property crisis, is trying to get its creditors’ approval for a debt revamp involving swapping their offshore bonds into new securities with

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OnePlus Officially Enters the Foldable Phone Market with the OnePlus Open

The foldable smartphone market has been in the works for quite some time now, and with Samsung stagnating and Google overpriced, a few new players are looking to enter the scene. Among them is Chinese manufacturer OnePlus, which has been teasing its entry into the category for some time now. The company might be ready to take the wraps off its OnePlus Open foldable at an event later this week.

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Volvo Goes All-Electric, Ending Diesel Car Production by 2024

The world is moving towards electric cars, and Volvo will be one of the first legacy car makers to switch to EVs entirely. The Swedish company, currently owned by China’s Geely (0175. HK), announced that it will stop producing diesel cars in its global range by early 2024. This is a clear signal that the company is becoming an all-electric carmaker. The move is expected to be a boon for

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Musk: Zuckerberg ‘Ducking’ My Challenge to Fight

We may collect your personal information, such as your name, email address, or other contact details. This information is used to fulfill your requests and provide our services. You can find more information about how we use your data here. By clicking ‘Accept and Continue,’ you agree to these terms. You can decline using these technologies or update your preferences at any time. Billionaire Elon Musk has again challenged Meta

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Dollar’s Strength Could Cause Turbulence in Global Markets

Global business splutters, and the pound slides to a record low against the dollar, while Russia’s invasion of Ukraine sends the dollar surging anew. It’s a powerful reminder that the U.S. dollar is the dominant world trade and finance currency. The Fed’s determination to crush inflation at home by pushing interest rates up will profoundly affect the rest of the world. The dollar’s surge this year has triggered financial crises

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Google’s AI Image Detection Tool Aims to Combat Deepfakes and Other Malicious Uses

The world is awash in images, but some are not real. Fake photos have been used to smear people’s reputations and even to blackmail them. This has led to cyber criminals creating a lot of misinformation online, which is also being used by governments for surveillance purposes. To combat this issue, Google has been working on a solution, and now it has launched a new tool to help spot AI-generated

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Dollar Treads Water as Fed’s Rate Hike Outlook Takes Center Stage

The dollar wobbled from a 12-week peak as traders weighed the U.S. monetary path after a lackluster set of jobs data sparked concerns about the pace of interest rate hikes. Treasuries rose, and the dollar weakened against the euro and the yen. Investors were also digesting a speech by Fed Chair Jerome Powell at the annual Jackson Hole Economic Policy Symposium. In an eagerly awaited speech, Powell left open the

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US NHTSA to Announce Findings of Tesla Autopilot Probe Soon

The National Highway Traffic Safety Administration (NHTSA) will resolve its two-year investigation into Tesla’s Autopilot and could make a public announcement soon, the agency’s acting head told Reuters. “We’ll get to a resolution,” Ann Carlson said in an interview at the agency’s headquarters. The NHTSA is probing how drivers interact with Autopilot and whether the system adequately monitors them to ensure they pay attention. The agency is also considering whether

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Elon Musk Says He Looks Forward to Visiting India Soon

The founder of SpaceX and the owner of Twitter, Elon Musk, has made it clear that he wants to bring his company’s electric vehicles to India. The billionaire said he enjoys Prime Minister Narendra Modi and wants to visit the country next year. He also hopes to bring his Starlink internet services to rural and remote Indian villages. A photoshopped image of Elon Musk in Indian attire went viral on

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Vivo V29e Unveiled: A Stylish Mid-Range Phone with Powerful Cameras

Vivo will soon launch the Vivo V29e in India — its camera-focused mid-premium offering. The company has already teased the phone’s design, showing a slim smartphone design with a curved display. Moreover, the company also revealed that the Vivo V29e would feature color-changing technology on its back panel, which is touted to transition rich hues to more captivating glamour. The smartphone will be available in Artistic Red and Artistic Blue

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Arrow 3 Missile System to Protect Germany from Ballistic Missiles

The United States approved a $3.5 billion sale of Israel’s Arrow 3 missile killer to Germany on Thursday, clearing the way for delivery in 2025 and full operational deployment by 2030, Israeli officials said. The Arrow system is a long-range air defense system that intercepts missiles inside and outside the Earth’s atmosphere and is developed jointly by the Israel Missile Defence Organisation and the United States Missile Defense Agency. Israel’s

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Fusion Ignition Achieved for 2nd Time in US

In a milestone that would have been impossible to imagine just a few years ago, scientists at the Lawrence Livermore National Laboratory have repeated their first-ever achievement of net energy gain in a nuclear fusion experiment. This is a huge step toward achieving what could be a nearly limitless, clean source of power for the world. The researchers achieved the feat in an experiment conducted on July 30 at the

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Barbie Movie Surpasses $1 Billion, Shattering Records for Female Directors

Greta Gerwig’s Barbie Crosses $1 Billion At Box Office Record For Solo Woman Director. The movie based on the famous doll has raked in more than a billion dollars at the global box office, making it only the second picture to hit that mark this year. It also makes it the first film directed by a single woman to reach that milestone, surpassing the previous record set by Wonder Woman

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JPMorgan Chase Stops Processing Its Grain Payments to Russia

U.S. bank JPMorgan (JPM.N) this week stopped processing payments for the Russian Agricultural Bank, Russia said on Friday, as it demanded action, not promises, from Washington to help Russian grain and fertilizer reach global markets. The bank had handled some Russian grain export payments for the past few months with reassurances from Washington. However, that cooperation was “closed on Aug 2,” the Foreign Ministry said. “JPMorgan cannot ignore the consequences

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Yeezy Helps Adidas Turn a Corner as Margins Improve

Adidas delivered further signs that its turnaround is gathering pace on Thursday as the sportswear giant sought to shift focus onto its strategy and away from its sell-down of remaining Yeezy shoes. The German company said it would slash its operating loss forecast to around EUR700 million this year, down from the previous estimate of a EUR1.2 billion loss. Adidas shares, up 1.8% by 1000 GMT, have gained 40% since

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Kenyan Authorities Halt Worldcoin Crypto Project over Privacy Concerns

On Wednesday, Kenya’s interior ministry said it had suspended the local activities of the cryptocurrency project Worldcoin while government agencies assess potential risks to public safety. The project launched last week and requires users to give their iris scans in exchange for a digital ID. In some countries, users also get free cryptocurrency as part of plans to create a new “identity and financial network.” The idea behind the project

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Emerson Sees Strong Demand for Industrial Automation in 2023

On Wednesday, U.S. engineering and industrial software firm Emerson raised its fiscal 2023 forecast as companies increase spending on automation in response to a tight labor market. Emerson’s shares rose 3.9% in premarket trading. The company’s new growth forecast is based on a more robust outlook for North American sales and earnings and increased demand for its industrial automation systems. The maker of sensors and controls said it expects revenue

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Cardi B Listed As Suspect In Battery Case

Days after a video of rapper Cardi B throwing her microphone at a concertgoer who tossed their drink at the rapper onstage went viral, the US police said that they had started a battery investigation. The Las Vegas Metropolitan Police Department on Monday said that a woman had contacted them to report a battery, according to Page Six. Cardi B threw her microphone at the female audience member while she

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An American Fugitive Who Faked Death Can Be Extradited to the U.S.

An American fugitive accused of faking his death to avoid a rape charge in Utah can be extradited to the U.S., a judge in Scotland ruled Wednesday. The 35-year-old man — identified in court as Nicholas Rossi but who insists on using the name Arthur Knight — has been in prison since his bail was revoked in December 2021 and has fought his return ever since. Rossi has been appearing

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US Inflation Shows Signs of Peaking, But Still Too High

Inflation in the United States rose at its slowest pace in more than two years last month, a sign that a series of interest rates have punctured soaring price rises. The annual inflation rate slowed to 3.1% in June, down from 4% in May, according to the latest data from the Labor Department. Inflation in so-called core prices — a measure that excludes volatile food and energy costs — fell

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Tesla Executives Meet with Indian Officials to Discuss Market Entry

Two senior Tesla executives — the company’s public policy and business development executive Rohan Patel and its vice president for supply chain, Roshan Thomas — met with officials from India’s investment promotion arm in New Delhi on Thursday, the sources said, asking not to be identified as the talks were private. Invest India CEO Nivruti Rai, a former Intel executive hosted them. Tesla and Invest India declined to comment. The

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Critical Recess: Lawmakers Brace for High-Stakes September and Potential Shutdown

As Congress members depart for their August recess, they leave behind a critical and pressing issue that threatens the nation’s stability: the looming possibility of a government shutdown. With September approaching, the urgency to address funding and legislative matters has never been more apparent. The country stands at a crossroads, and the decisions made in the coming weeks will undoubtedly shape its future trajectory. This article delves into the implications

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